"right-to-quality" episodes and might contain information about expected future business conditions through funding liquidity …, dispersion in beliefs, and funding liquidity. We argue that stock market illiquidity is a timely variable that is related to …

Under Basel III rules, banks become subject to a liquidity coverage ratio (LCR) from 2015 onwards, to promote short …-term resilience. We investigate the effects of such liquidity regulation on bank liquid assets and liabilities. Results indicate co …-integration of liquid assets and liabilities, to maintain a minimum short-term liquidity buffer. Still, microprudential regulation …

I study a model of market-liquidity provision by levered intermediaries that, besides operating trading desks, run … deposit-taking franchises. Levered intermediaries’ heightened incentive to absorb risk helps to counteract liquidity …. However, liquidity provision may also overshoot, leading to unhealthy price bubbles and causing asset origination to become …

We examine whether the drastic improvement in liquidity in the US stockmarket after 2003 has impacted the systematic …-varying long bias in US-stockmarket exposure. The reversal of the relationship points towards liquidity timingby hedge funds in the …

oligopolistic market where firms compete in price and quality and where consumers are heterogeneous in knowledge: some consumers … know both the prices and quality of the products offered, some know only the prices and some know neither. We show that two … types of signalling equilibria are possible. Both are characterised by dispersion and Pareto-inefficiency of the price/quality …

apartments. We find that, on average, households place a monetary value on quality which is close to the non-profit housing … estimates of the households' value of apartment characteristics is invalid for regulated housing markets such as public housing … apartment characteristics based on residential mobility. We focus on the households' marginal willingness to pay for quality of …

Firms signal high quality through high prices even if the market structure is highly competitive and price competition … is severe. In a symmetric Bertrand oligopoly where products may differ only in their quality, production cost is … increasing in quality and the quality of each firm’s product is private information (not known to consumers or to other firms …

effect of competition on educational quality as only a few countries allow large scale competition. In the Netherlands free …

thetrue quality of the tourist goods increases the convenience for producers to cut back on quality. Tocontinue to serve high … quality goods and keep up the reputation of the destination as demandcontinues to grow, producers need to gain a mark-up on … increasinglysusbstituted by visitors with lesser quality expectations. In the end, the dynamics explained withthis approach are consistent with …

downgrades quality whereas the seller sometimes upgrades it. Our model of targeting with endogenous product quality provides some … new insights into the way the transition from mass to specialized advertising can affect market outcomes. Quality …